The Government stated Ukraine was the “bread basket of Europe”, supplying 10% of the world’s wheat, 12-17% of the world’s maize and half of the world’s sunflower oil, with 25m tonnes of corn and wheat unable to be exported and at risk of rotting in Ukrainian silos, due to Russian attacks disrupting rail exports.
Speaking at the summit, held in Germany, Johnson said: “Putin’s actions in Ukraine are creating terrible aftershocks across the world, driving up energy and food prices as millions of people are on the brink of famine.
Make life easier
“Only Putin can end this needless and futile war. But global leaders need to come together and apply their combined economic and political heft to help Ukraine and make life easier for households across the world. Nothing should be off the table.”
Furthermore, Johnson pledged the UK would contribute up the £10m in materials and equipment to Ukraine Railways to repair the country’s infrastructure, on top of last week’s announcement from the Commonwealth Heads of Government Meeting of an additional £372m for countries most impacted by rising global food prices.
This comes as inflation recently hit a 40-year high of 9.1%, with the Bank of England having forecast the level could reach as high as 11% later this year as pubs profitability plummets due to rocketing operating costs, meaning just one in three businesses were making a profit, according to trade bodies across the sector.
A joint statement from the British Beer & Pub Association (BBPA), British Institute of Innkeeping (BII) and UKHospitality (UKH) said: “In the past few weeks inflation has hit record levels and costs on key ingredients and utilities has rocketed, whilst consumer confidence has plummeted resulting in fewer customers in our venues.
“We are weathering a perfect storm, but we can’t hold on forever, we need relief as soon as possible before the cost of doing business forces venues to close for good.”